Oil prices rose by more than $5 on Monday, boosted by dollar weakness and expectations that the U.S. Federal Reserve won't raise interest rates by a full percentage point at its next meeting to combat inflation.Brent crude exports for September gained $5.11, to settle at $106.27 a barrel, after rising 2.1% on Friday.

Oil gains $5 on weaker dollar, tight supplies

Posted On: July 25, 2022

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Oil prices rose by more than $5 on Monday, boosted by dollar weakness and expectations that the U.S. Federal Reserve won’t raise interest rates by a full percentage point at its next meeting to combat inflation.Brent crude exports for September gained $5.11, to settle at $106.27 a barrel, after rising 2.1% on Friday.